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Gold Dips, Wheat & Natural Gas Rally

January 6, 2015 at 1:12 by Vladimir Vyun

Gold futures dipped today as concerns about the political turmoil in Greece boosted the dollar. Market participants are worried that Greece may leave the eurozone in case the anti-austerity Syriza party wins elections. While gold is considered a store of value, nowadays the US currency is usually preferred as a safe investment option. February contract for gold lost 0.19 percent to $1,201.70 per troy ounce as of 00:59 GMT on COMEX today.

Wheat gained today due to concerns that cold weather in the United States may damage plants. Other grains rallied as well. March contract for delivery of wheat gained as much as 1.33 percent to $5.89 per bushel on CBoT today.

Low temperatures also led to a rally of natural gas. Futures rallied 5 percent yesterday on speculations that chilly weather will lead to higher demand for the heating fuel. Futures for delivery of natural gas in February advanced 1.28 percent to $2.92 per million British thermal units on NYMEX today.

If you have any questions and comments on the commodities today, use the form below to reply.

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